A year earlier, it made a profit of 51.29 billion rupees, helped by tax benefits from the firm’s deal with the U.S. Internal Revenue Service, the company said in a statement here

Still, Infosys raised its revenue growth forecast for the year through March 2019 to 8.5-9 percent in constant currency, from 6-8 percent previously.

Total expenses in the quarter surged over 26 percent to 170.21 billion rupees, which included an additional depreciation and amortization charge of $12 million and a reduction of $65 million in the carrying value for its Skava units.

The company also said it was “no longer highly probable” that the sale of its units Kallidus & Skava and Panaya would be completed by March 31, 2019.

Meanwhile, revenue from operations in the quarter rose 20.3 percent to 214 billion rupees in what is usually considered a seasonally weak period for Indian IT firms.

Infosys also approved a buyback of shares worth 82.60 billion rupees as part of its capital allocation policy.